Problem: A polynomial product of the form
\[(1 - z)^{b_1} (1 - z^2)^{b_2} (1 - z^3)^{b_3} (1 - z^4)^{b_4} (1 - z^5)^{b_5} \dotsm (1 - z^{32})^{b_{32}},\]where the $b_k$ are positive integers, has the surprising property that if we multiply it out and discard all terms involving $z$ to a power larger than 32, what is left is just $1 - 2z.$  Determine $b_{32}.$

You can enter your answer using exponential notation.
Explanation: Let $g(z) = (1 - z)^{b_1} (1 - z^2)^{b_2} (1 - z^3)^{b_3} (1 - z^4)^{b_4} (1 - z^5)^{b_5} \dotsm (1 - z^{32})^{b_{32}}.$  Since $g(z)$ reduces to $1 - 2z$ if we eliminate all powers of $z$ that are $z^{33}$ or higher, we write
\[g(z) \equiv 1 - 2z \pmod{z^{33}}.\]Then
\begin{align*}
g(-z) &= (1 + z)^{b_1} (1 - z^2)^{b_2} (1 + z^3)^{b_3} (1 - z^4)^{b_4} (1 + z^5)^{b_5} \dotsm (1 - z^{32})^{b_{32}} \\
&\equiv 1 + 2z \pmod{z^{33}},
\end{align*}so
\begin{align*}
g(z) g(-z) &= (1 - z^2)^{b_1 + 2b_2} (1 - z^4)^{2b_4} (1 - z^6)^{b_3 + 2b_6} (1 - z^8)^{2b_8} \dotsm (1 - z^{30})^{b_{15} + 2b_{30}} (1 - z^{32})^{2b_{32}} \\
&\equiv (1 + 2z)(1 - 2z) \equiv 1 - 2^2 z^2 \pmod{z^{33}}.
\end{align*}Let $g_1(z^2) = g(z) g(-z),$ so
\begin{align*}
g_1(z) &= (1 - z)^{c_1} (1 - z^2)^{c_2} (1 - z^3)^{c_3} (1 - z^4)^{c_4} \dotsm (1 - z^{16})^{c_{16}} \\
&\equiv 1 - 2^2 z \pmod{z^{17}},
\end{align*}where $c_i = b_i + 2b_{2i}$ if $i$ is odd, and $c_i = 2b_{2i}$ if $i$ is even.  In particular, $c_{16} = 2b_{32}.$

Then
\begin{align*}
g_1(z) g_1(-z) &= (1 - z^2)^{c_1 + 2c_2} (1 - z^4)^{2c_4} (1 - z^6)^{c_3 + 2c_6} (1 - z^8)^{2c_8} \dotsm (1 - z^{14})^{c_7 + 2c_{14}} (1 - z^{16})^{2c_{16}} \\
&\equiv (1 - 2^2 z)(1 + 2^2 z) \equiv 1 - 2^4 z^2 \pmod{z^{17}}.
\end{align*}Thus, let $g_2(z^2) = g_1(z) g_1(-z),$ so
\begin{align*}
g_2 (z) &= (1 - z)^{d_1} (1 - z^2)^{d_2} (1 - z^3)^{d_3} (1 - z)^{d_4} \dotsm (1 - z^7)^{d_7} (1 - z^8)^{d_8} \\
&\equiv 1 - 2^4 z \pmod{z^9},
\end{align*}where $d_i = c_i + 2c_{2i}$ if $i$ is odd, and $d_i = 2c_{2i}$ if $i$ is even.  In particular, $d_8 = 2c_{16}.$

Similarly, we obtain a polynomial $g_3(z)$ such that
\[g_3(z) = (1 - z)^{e_1} (1 - z^2)^{e_2} (1 - z^3)^{e_3} (1 - z)^{e_4} \equiv 1 - 2^8 z \pmod{z^5},\]and a polynomial $g_4(z)$ such that
\[g_4(z) = (1 - z)^{f_1} (1 - z^2)^{f_2} \equiv 1 - 2^{16} z \pmod{z^3}.\]Expanding, we get
\begin{align*}
g_4(z) &= (1 - z)^{f_1} (1 - z^2)^{f_2} \\
&= \left( 1 - f_1 z + \binom{f_1}{2} z^2 - \dotsb \right) \left( 1 - f_2 z^2 + \dotsb \right) \\
&= 1 - f_1 z + \left( \binom{f_1}{2} - f_2 \right) z^2 + \dotsb.
\end{align*}Hence, $f_1 = 2^{16}$ and $\binom{f_1}{2} - f_2 = 0,$ so
\[f_2 = \binom{f_1}{2} = \binom{2^{16}}{2} = \frac{2^{16} (2^{16} - 1)}{2} = 2^{31} - 2^{15}.\]We have that $f_2 = 2e_4 = 4d_8 = 8c_{16} = 16b_{32},$ so
\[b_{32} = \frac{f_2}{16} = \boxed{2^{27} - 2^{11}}.\]We leave it to the reader to find a polynomial that actually satisfies the given condition.